Millions of stimulus debit cards will be mailed out starting this week
The Treasury Department announced Thursday that approximately 8 million second stimulus payments will be mailed out starting this week in the form of prepaid debit cards. The debit cards, called Economic Impact Payment (EIP) cards, are issued by MetaBank, N.A., and will arrive in a white envelope that "prominently displays the U.S. Department of the Treasury seal." The cards themselves will have "Visa" on the front and MetaBank on the back. The envelope will also include instructions for activating the cards. Many people reportedly threw the cards away during the first round of stimulus checks because they were not expecting them.cnbc.com
In college? You could be eligible for $1,800 in stimulus check payments
Even the IRS is specifically telling eligible university students to chase down the stimulus cash they are owed. You just need to "be a qualifying taxpayer, i.e., not a dependent on someone else's tax return," continued Steber. "There will be a schedule and line on the tax return to reconcile what they have received so far, and the amount actually due to them based on their 2020 tax return," continued Steber. "TurboTax has guidance related to stimulus payments and other impacts of Covid-19," explained Greene-Lewis. "It will ask up front if the filer received a stimulus payment and then calculate the recovery rebate credit based on actual 2020 income."cnbc.com
130M Americans receive economic impact payments amid coronavirus pandemic
WASHINGTON – The U.S. Department of the Treasury and IRS released figures on the current status of U.S. economic impact payments on Friday. The federal government is providing economic impact payments -- also known as stimulus payments -- to residents in response to financial hardships faced by Americans amid the coronavirus (COVID-19) pandemic. Officials expect to deliver more than 150 million payments in total. The Treasury released a document that shows the number of economic impact payments provided within each state and their total dollar amounts. The document says 4,081,884 payments have been distributed among Michiganders amid the pandemic, totaling $7,045,417,642 as of Saturday.
State officials: Stimulus payments will not affect public assistance benefits
DETROIT – The Michigan Department of Human Services announced Wednesday that income from federal stimulus payments will not affect eligibility for public assistance benefits such as food assistance. Stimulus checks also will not reduce the amount of public assistance benefits that anyone receives. We don’t want them to worry about losing other benefits as a result of the stimulus payments.”Stimulus payments will not affect any of the following public assistance benefits:Food Assistance Program benefits under the Supplemental Nutrition Assistance Program (SNAP). Cash assistance under the Family Independence Program or Refugee Cash Assistance program. Click here to visit the 2020 Coronavirus Stimulus Payment website.
Payments explained for children receiving Social Security
Not everyone is required to file a tax return, and so the Treasury Department created an alternative method for those receiving benefits from the Social Security Administration. Families whose dependent children receive Social Security now have an online tool to sign up for the Economic Impact Payment funds. But not everyone is required to file a tax return, and so the Treasury Department created an alternative method for those receiving benefits from the Social Security Administration. The same instruction also applies to SSI recipients, especially those who have qualifying children under age 17. Social Security and SSI recipients who do not have qualifying children under age 17 do not need to take any action with the IRS.monroenews.com